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23:03 IST

Nikkei 225 futures are currently trading at 21770-lower by 1.26% as compared to the previous closing. The contract closed in the negative territory in the last trading session also.

In the Cash Markets, the Nikkei 225 lost 3.47% to close at 21,530.95 on Monday. It was its lowest closing level since 27th May. The index today fell below key support of the 200-day MA (21,755).

The Nikkei 225 fell today as worries about a surge in new cases of coronavirus around the world reduced hopes of a quick recovery from the virus-driven global recession.

As new COVID-19 cases resurfaced in the US and China, worries about a second wave have deepened.

There were 5 gainers against 219 losers on the benchmark index today. Cyclical stocks led the losses on Monday.

Stocks of airlines fell about 5% due to concerns about the coronavirus.

Semi-conductor-related stocks also underperformed today. Tokyo Electron and Screen Holdings fell 5.5% and 7.0% respectively on Monday.

Stocks of Sapporo Holdings fell more than 5% after Nomura lowered its target price and rating.

The broader Topix fell 2.54% to close at 1,537.89.

The markets showed little response to China’s data released earlier today that was slightly lower than the consensus estimates.

Other top losers in the index include- Mitsui E&S Holdings Co Ltd (fell 9.9%), Recruit Holdings Co Ltd (declined 7.2%), and Suzuki Motor Corp (dropped 7.2%) on Monday.

On the other hand, top gainers in the index include- Idemitsu Kosan Co Ltd (surged 1.9%), NTT DoCoMo Inc. (rose 0.8%) and Shionogi & Co Ltd (advanced 0.5%).

On the technical front, the RSI is currently at 50.01% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle band of the Bollinger Bands and is heading downwards.

Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.


Trade Suggestion-Limit Sell At 21800 Take Profit At 21500 Stop Loss At 21950

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